The Thanksgiving Lowdown ⬇️

Grateful for accountants everywhere.

If you're new here, every day I serve up the 4-5 best accounting insights from the past 24 hours.

I scroll, so you can feast. 🍽️

💎 WTF of the Day

Georgia Tax Preparer Scams the IRS for $3 Million

Jessica Crawford, a tax preparer from Georgia, just admitted to one of the wildest scams you’ll hear this year. Over two years, she filed fake tax returns claiming bogus credits, sick leave, family leave, and nonexistent dependents, and funneled millions in refunds to her clients. Naturally, she took a slice for herself.

But that wasn’t all. While the FBI was digging into pandemic unemployment fraud, they found out Crawford had been filing fake unemployment claims too. Now, she’s staring down a potential 30-year prison sentence. The IRS may be slow, but they always catch up.

💎 What’s poppin in accounting

$22B Robotics Giant’s Accounting Mess

Symbotic Inc, a robotics company once valued at $22 billion, has run into serious trouble. Accounting errors involving revenue and expense reporting delayed their annual report and revealed weaknesses in financial controls.

Their stock dropped 36%, wiping out $7.9 billion of the company’s value. Even with big name clients like Walmart, these mistakes are a red flag for investors, and analysts are slashing their outlook.

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 📊 Weekly Trend Chart

Trump Proposes New Tariffs on Top Trade Partners

President- Donald Trump has proposed new tariffs on America’s top trading partners—Canada, Mexico, and China.

• Canada & Mexico: A 25% tariff on imports, tied to addressing immigration and drug trafficking issues.

• China: A 10% tariff aimed at reducing the flow of illegal drugs like fentanyl.

These proposed measures could lead to higher costs for imported goods like food and electronics. Canada and Mexico are considering counter-tariffs, and China has responded critically, calling the move "unnecessary."

Whether this strengthens negotiations or sparks trade disputes remains to be seen.

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